In the case of perfect substitutes

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Reference no: EM13771079

Use a diagram to explain the following: In the case of perfect substitutes, if the ratio of input prices equals the MRTS, will a unique solution to the firm's cost-minimization problem exist? In the case of perfect substitutes, if the ratio of input prices does not equal the MRTS, where will we find the solution to the firm's cost-minimization problem graphically?

Reference no: EM13771079

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